S&P Global and other investors back US-based Credora to improve lenders’ ability to evaluate risk
Credora, a US-based lending infrastructure provider, has raised $6m in a strategic funding round.
The funding will be used to further build institutional rails for credit and enhance its private computation technology.
Founded in 2019, Credora utilises privacy-preserving technology to improve lenders’ ability to evaluate risk in real-time.
S&P Global and Coinbase Ventures were the major investors in the round, which also included participation from Spartan, Amber Group and Paradigm.co.
Credora has raised more than $16m in venture funding to date.
Darshan Vaidya, chief executive officer of Credora, commented: “Credora solves the information asymmetry problem by using private computation techniques on real-time data, ensuring borrowers continuously validate their creditworthiness while maintaining the privacy of their sensitive information.
“Credora’s technology helps create more transparent and open lending markets built on robust underwriting standards.”
Charles Mounts, chief DeFi officer of S&P Global Ratings, added: “We are thrilled to engage in the credit DeFi ecosystem through our investment in Credora.
“We believe the company is well positioned to be leaders in this space due to their innovative approach and utilisation of technology.”